Legal Question in Consumer Law in Florida

Family loan repayment to the lender who passed away
Borrowed money from a grandparent, and had a signed agreement between us two for the dollar amount at 0% interest. The monthly repayment amount was blanked out and never set upon. Was paying one amount bi-weekly, but have spread out payments. Lender has now passed away. Payments have been made to trust in the lenders name. There were no stipulations in the agreement between two parties in case of death. Is the loan still required to be paid in full? And if so, since the dollar amount is left blank for monthly payments, can this fluctuate.

Asked on 11/25/08, 12:37 am

Michael Hendrickson Law Office Michael E. Hendrickson

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Re: Family loan repayment to the lender who passed away

Yes, the loan must still be paid in full despite the lender's demise and variable payments are permissible if the trustee doesn't object.

Answered on 11/25/08, 8:15 am

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